Label vs Literal in asp.net

Label:

The Label web server control is used to label other controls on an aspx web page/UserControl. It is used to display text with the ability to change the style (appearing) of the displayed text.

Inheritance Hierarchy:
System.Object
  System.Web.UI.Control
    System.Web.UI.WebControls.WebControl
      System.Web.UI.WebControls.Label

<asp:Label ID="lblFirstName" runat="server" CssClass="myCssClass"Text="First Name" />

It will be rendered as:

<span id="ctl00_ContentPlaceHolder1_lblFirstName" class="myCssClass">First Name</span> 
(NB: the id of the Label is related to the structure of your asp page and if you are using MasterPage or not)

Literal:

Use the System.Web.UI.WebControls.Literal control to reserve a location on the Web page to display text. The Literal control is similar to the Label control, except the Literal control does not allow you to apply a style to the displayed text. You can programmatically control the text displayed in the control by setting the Text property.

Inheritance Hierarchy:
System.Object
  System.Web.UI.Control
    System.Web.UI.WebControls.Literal 

<asp:Literal id="litFirstName" runat="server" Text="First Name" />